Accelerate Prosperity and Ignite-National Technology Fund Joining Hands to Foster Entrepreneurship in Pakistan

23 October 2020

Accelerate Prosperity (AP), an initiative of the Aga Khan Foundation (AKF) and Industrial Promotion Services (IPS) has signed a Memorandum of Understanding with Ignite – National Technology Fund of the Federal Ministry of Information Technology and Telecommunication to work together in promoting entrepreneurship and boosting private sector growth in Pakistan.

The aim is to provide business support services, which includes financing and technical assistance to start-ups and small and growing businesses.

Ignite will collaborate with Accelerate Prosperity, along with Aga Khan Rural Support Programme(AKRSP), Aga Khan Foundation (AKF) and the Aga Khan University (AKU), by becoming an outreach and alliance partner for EdVenture and HealthVenture, joint initiatives of AP and AKU. These joint initiatives of AP and AKU which will provide tailored training, business advisory services, subject matter expertise and investments to promising businesses across Pakistan who are producing or adopting educational and health technology and innovation.

Speaking at the occasion, the Minister of Federal Ministry of Information and Technology and Telecommunication, Mr. Syed Amin Ul Haq said: “This is a great initiative to build synergies between Aga Khan Development Network and the Ministry and promote innovative, sustainable businesses to boost private sector growth in Pakistan and create employment and income-earning opportunities in the country.”

 AKF Pakistan CEO, Akhtar Iqbal, while highlighting the objectives of the partnership, said, A mutual understanding of both parties will contribute in promoting public and private partnerships to develop an improved business environment in emerging regions in Central and South Asia. A partnership that has great potential to contribute to private sector development in Pakistan,” he said.

Minister Syed Amin Ul Haq was briefed on AKU’s recent health technology and innovation initiatives by Saleem Sayani, Director, AKDN’s Digital Health Resource Centre and AKU’s Technology Innovation Support Centre followed by a tour of AKU’s Centre of Innovation in Medical Education by Director Professor Charles Docherty.

The ceremony was attended by CEO Ignite, Mr. Syed Junaid Imam, General Manager AKRSP, Mr. Jamil Uddin, and Executive Director AP Central and South Asia, Mr. Imran Shams, along with AKU Vice Provost, Dr. Anjum Halai, and Senior Advisor, Provost’s Office, Mr. Fayaz Noormohamed.